Tuesday’s Telegraph suggested Mike Ashley is about to increase his shareholding in newco to 29.9% via a share issue, in contravention of his agreement with the SFA on multiple ownership. This morning the club informed the stock market the Ashely’s appointee, Derek Llambias, is now chief executive.
The key passage in the Telegraph article is:
“There is no certainty of anything like unanimous approval, but many in the higher reaches of the Scottish game acknowledge that a revived Rangers, capable of resuming the Old Firm rivalry and renewing the club’s presence in Europe would make Scotland more attractive to broadcasters and league sponsors, with general benefits.”
This has almost certainly come from the same kind of club source which in another lifetime were assuring journalists that HMRC would agree to a CVA; I know for sure the SFA are far from ready to rubber-stamp an Ashley land grab.
There are a few points which, despite blanket coverage of this issue, are not getting a proper hearing:
At current trading levels, Ashley is earning around £4m p.a. from newco as their retail ‘partner’. He is also their exclusive wholesaler, so the club is worth even more to him, let’s say £5m p.a. in total.
Anyone who tells you his financial pay-off is through having newco wear his branding on a European stage is either wholly compliant in an attempt to mislead newco fans, or is simply regurgitating information handed to them by PR agents, without the wherewithal to digest the information correctly.
He’s making £5m per year and he therefore has an interest in ensuring the club continues in its current condition.
The second issue is around the legality of multiple-ownership. It is not against Uefa rules (you can simply comply by one club not competing) but does breach rules in Scotland and England. I recommend not getting too hung-up on this point. In the event he was asked to disinvest from one of his clubs, Ashley could with pull a Blue Pitch Holdings/Margarita stroke.
For all you know about those two newco investors, I could own them. It’s a paper exercise for Ashley to move his ownership beyond the reaches of oversight, and there is nothing in the rules to prevent this.
The question for the SFA, and eventually the FA, is what level of Ashley’s influence, not ownership, they are comfortable with. There are no guidelines on this point.
A further consideration is that whoever briefed the Telegraph at the start of the week is likely to have painted a scenario that without Ashley’s next bung, newco is likely to go the way of oldco. This is far from certain.
If all newco need to survive another season is circa £8m it’s not a figure beyond the realms of possibility for some of the blowhards who have been trying to disrupt Ashley’s strategy in recent months.
My hunch is that the SFA and newco’s fans will be presented with a fait accomply – it’s Ashley or bust. What is certain is that the club will be vastly more inhibited by Ashley milking it dry than with a unifying figure. He has the makings of a memorable Ibrox owner, a true heir to Sir David Murray.
Thank you to everyone who participated in our Magners ticket competition yesterday – and who donated to Mary’s Meals. The answer to the question, who do we play on 27 December, is Ross County, which proved to be trickier than I thought. Draw will be made this afternoon and winner informed thereafter.
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Burghbhoy
he goes to away games because he is a Celtic fan, he doesn’t take freebies because he is a Celtic fan,he sits with the fans and my daughter and nephews because he is a Celtic fan,
he is a Celtic fan.
Ohh lenny is a millionaire but not becausd he is or was a Celtic fan
DD,
Your more than probably right, especially the rebel bit…;))
burghbhoy
Thank you, genuinely.
Lennybhoy
You too daftie :-)
hun skelper
I don’t run any bus mate but I know a man who knows a man who has an aunt that had a sister who went to space who met a martian……and that alien knew wee Franny :-)
BT
Have the msm ever asked your Da for his opinions ?
HH
hamiltontim
21:45 on 19 December, 2014
Sorry mate sounded like you did HH
Bolton nine points off the playoffs. He surely couldn’t get them up to the premiership could he ?
Considering the luck that the bigots have been carrying over the last few years its a certainty !
Go on Neily Bhoy inflict more pain on them !
BT
Not only a fan but a legend..LEGEND ill tell yea.
HH
Well done Lennon and his team….whats not to like….
Not been on CQN since yesterday, best response and 99% of us should save it and just copy and paste…..
winning captains
00:10 on 19 December, 2014
the glorious balance sheet
You know I am only really interested in Celtic – first, last and overall.
Much as I dislike “them” there is no way that they would stop me loving Celtic. You make your own decisions – as you say you are entitled.
TeT
aye, winning captains said the only lion who didn’t want them back that he spoke to was Yogi, quess what he didn’t ask my dad…
prestonpans bhoys,
Yep, nice green scarf there.
Winning captains…. Hope it’s ok I quoted you, not interested in what the discussion was about, but it definitely had me nodding in agreement
BT
I am enjoying the hun free sanitised fitba that I am witnessing with my kids & grandkids. Don’t want my grandkids to experience the bile & bigotry that we did as kids. Build up a rival fae Maryhill.
Emdy going on Sunday ?
On a different note,mood to see NL’s Bolton do well.
They have hardly lost a game since he arrived.
If they get a goal scorer at Xmas, the daws will become wins and I think they will be in play offs.
TET
i gave a bhoy on cqn winning captains email address today..,
i know the truth and i respect p67..
LEGEND
APPEARANCES LEAGUE SCOTTISH CUP LEAGUE CUP EUROPE TOTAL TOTAL
1958-72 114 14 36 20 184
Shut-outs: 32 6 13 10 61
(33%)
HH iil tell yea
Itscalledthemalvinas,
Imo, Bolton will get to play offs, or very close.
Then do better next year and make it to prem.
Then do not great in prem and he will go from hero to zero in an instant.
I’m not having a go at lenny btw. I’m having a go at the mixed up world that is English football.
well that didnt work.shit
dddddddcfc
Legend, yer right there butsy… o))
As the song goes we are Celtic supporters faithful through and through.
Gerryfaethebrig 2152-
I wouldn`t call that post the best response ever as it implies that I had suggested that I would support Celtic less because of the existence of some form of Rangers.
My exchange with Winning Captains followed on from my observation that it seemed to me to be inconsistent that this CQN site, which proclaims its contempt for the lazy journalism of the SMSM and is firm in its conviction that Rangers were cheats who we would be better off without (points that I agree with), uses former Celtic players to sell books when these same former players appear in the SMSM saying how much we miss and need Rangers (Joe Miller being the specific example mentioned last night).
I said that I was entitled to this viewpoint; there was no mention of me being any less firm in my support of Celtic. I did not question or criticise Celtic. I questioned what I thought was the sales arm of CQN being inconsistent with the site`s purpose of being against lazy pro-Rangers journalism.
At no point did I question or criticise Celtic or suggest I would support the club less. CQN is not Celtic FC and questioning CQN does not equate to questioning Celtic FC.
Blantyretim, keep quoting TB, as a Bhoy fae the brig who has sometimes had a lager tops or two in the Parkville, you were probably in Parkhead couple of seasons ago when we beat Aberdeen 9-0, but I was in the Parkville watching some dodgy stream and had a tenner on Stokes hat-trick which Anto duly obliged, also had a shandy back in the day in the Commercial, The Priory has sold its soul, the Commercial was the business….never been in the KOSC, would have loved to witness Phil, Paul67 & Paul McC in full flow, God bless Paul McC, a really good (and very intelligent) Albion Rovers man
Hamiltontim
21:28 on 19 December, 2014
Petec
If you need tickets I’ll do my best pal.
It’s a Celtic thing, and you’re a Celt.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
I’ve noticed you do so much for others, ticketwise.
Hail Hail fine Celt.
I just want Celtic to be the Greatest ever, from Scotland as well.
Just wish one player or explayer would come out and say”that mob are deid, we dont need them”..but wont happen..the ones they ask, the result the media require is a given…all taking the queens shilling…same as the referendum…every ex Celtic player that came out said NO….think the media know who and who not to ask….so i no longer get upset…i see explayers for what they are….expro’s who played for our club….i thank them.
..i move on…..
I don’t think Nir Biton will be playing tomorrow. I chatted to him today in Byres Road about half two.
It occurred to me he ought to have been away at that time on the bus with the rest of the squad if he was in contention for a place. Also looked to be limping a little
I said he should be pleased at his recent contribution to the team and wished him luck. I also said that if he and his family were heading for Ashton Lane that he should pretend to be Bilel Moshni with a hair cut so as to avoid a kicking. He seems not to speak High Ayrshire though because he just smiled and looked a wee bit puzzled. My Hebrew is a little rusty so I thought better of asking if they were going for a Hannukah swally.
Very pleasant chap and his family seemed very nice too.
Naturally, if Nir plays and scores a hat trick it probably means that I really was talking to Moshni .
hamiltontim
21:45 on 19 December, 2014
As I posted earlier to leftclicktic it takes a daftie to know a daftie…:)
Keep the Faith!
Hail Hail!
BT
if only ma da was here to see the Monkeys in shite .we would be the biggest members of the Maryhill gomancheros brigade .,,,,
The Glorious Balance Sheet
That was in no slight to yourself, I wasn’t bothering about the conversation, it was WCs response, this site should never forget the cheating bams but don’t ever let them get in the way of us just supporting Celtic…..that is all, maybe I should have edited your name but it was just the response I was nodding my head at
Gerry
the pri r a is a good boozer, pville is ok because we have Harry Hood but ksc is yer place because ye have me. …8))
Just oot from a viewing of The asterisk years and a q n a with Paul Larkin in Nairn. Excellent. Good Celtic men n wimmin.
Said wimmin now in chippie.
Met the big fella who used to run the London tavern and lots of other great tims.
HH
Delaneys Dunky
21:32 on 19 December, 2014
Petec
Have you finished work for Christmas?
We need a festive meet!
========================================
Not yet, finish 15:00 Monday.
A meet before Chrimbo is unlikely, I was mean’t to be sinking Jars with FFM tomorrow, finances dinnae allow.
livingwithinyermeans.csc
Gerryfaethebrig 2210-
No worries.
Hail hail.
Big Evan is ok…….he was a friend of my late brother and was at both my parent’s funerals…….he recently lost his wife who I was at school with one year….the following year I was in her wee brother’s class……..oh the joys of growing up in the Vale of Leven with only one ben affleck school…66 to a class was normal.
blindlemonchitlin
“Naturally, if Nir plays and scores a hat trick it probably means that I really was talking to Moshni .”
Oy Vey! :)
BT
will make a point to come up to the Ksc the morra tell me a time you will be there.
HH
bgx
and you know for sure that all playeds voted no.?
Blind lemon……
The game is on Sunday
BT
I posted the other night about your Da.
He was on the train on the way to Aberdeen to play a reserve game, must have been mid to late 60s, me and a couple of mates got on at Stonny, he arranged for autograpghs etc, talked to us and made us feel really special, I will never forget it.
I doubt he does mind you >}
Thank him from me, it really ment a lot to a young bhoy.
HH